Cryptocurrencies Lose $142 Million – Fed Statement Concern
Crypto Asset Funds, including Bitcoin and Etherium, recorded the most significant weekly outflows in four months; A total of $142 million for the week ended December 17. Investors avoided risky assets in light of U.S. Federal Statements.
The outflow of cryptocurrencies could continue into next year. The latest weekly discharge replaces the four-month-long inflow period. This occurs at a time when there has been a significant outflow of all risk assets on the U.S. Federal Reserve’s recent reduction statement; As well as what Bitcoin has lost a fifth of its value; Which was caused by macroeconomic concerns on December 4; The worth of BTC fell to $41,967.5 per session.
The largest cryptocurrency in terms of market capitalization, Bitcoin suffered the most significant blow with an outflow of $89.2 million. Ethereum recorded $63.6 million in outflows. It is worth noting that the total flow of funds this year was in the green zone. To date, investment in digital asset investment funds has totaled $9.4 billion. Bitcoin alone has amassed about $6.4 billion.
Part of some analysts expects that 2022 will be the year of net inflow into cryptocurrencies, despite the small outflow. It is predicted that eventually, Bitcoin, as an intact and fixed delivery asset, will be viewed very positively during the Q.E. release. Consequently, next year we will see far more inflows than outflows.
Expectations and Bitcoin Price
2021 was full of lots of changes for Bitcoin and other cryptocurrencies. This year, BTC conquered the peaks and landed on the bottom, flying and crashing. Expectations, finances, hopes were established; It assumed that It could even reach the 6-digit mark. However, the decline that occurred at the end of the year turned out to be telling. This year, Bitcoin failed to live up to experts who expected more from the popular currency. However, analysts believe that BTC has the potential, as in previous cases, to experience an impressive boom and break new ground. 2022 will be full of lots of surprises. Changes are an integral part of the trade sector, and that’s why.
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